Case Study: Growth led Operations Review & Transformation

ABOUT

Our client a UK regulated Financial Services Firm providing execution, settlement and custody services, required the design and delivery of a programme of process simplification and capability uplift to improve operating leverage while reducing risk, increasing resiliency and enhancing the client experience.

 

CHALLENGE

  • Business growth strategy required operations to increase processing capacity and reduce operating leverage.
  • Processes had evolved over time resulting in inefficiencies, duplication and manual execution.
  • Structure had micro teams with narrow capability and overuse of temps to service peak periods. Under utilisation of off-shore centre.
  • Client complaints reflected sub-optimal service.

SOLUTION

  • Assessment of requirements and identification of key levers.
  • Process re-engineering of key operational areas. Automation using workflow tooling.  Review of control framework.
  • Redesign to reduce layers and increase spans of control. Cross-training of employees. Location consolidation and increased dual processing with off-shore centre.
  • Training provided to client service representatives.

SUCCESSFUL OUTCOME

  • Operating leverage improved by 5.2% 2018 v2016. Operational Risk Events decreased by 28% and Operational Losses by 74% 2018 v 2016.
  • Process inefficiencies removed in key operational areas. Exceptions and aged breaks reduced  by > 70%.  Asset transfer times reduced by 33%.
  • Operating model embedded and supporting peak periods and volumes. Temp costs reduced by 75%.

 

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